Many methods have been utilized to market insurance and related financial products by various insurance companies, brokers, agents, advertising companies, and intermediaries of various sorts. Design and implementation of marketing programs is an art unto itself. Many programs are improved over time by trial and error and are often based on intuition and guesswork on the part of the insurance companies, brokers, agents, and the like.
Among the wide variety of insurance products which have been developed over time, one class of product has been relatively successful for many companies, such product being one where a relatively small amount of complimentary insurance coverage is offered to individuals by sponsoring organizations and a relatively larger amount of voluntary insurance coverage is also offered to the individual, wherein the voluntary coverage is paid for by the individual rather than the sponsoring organization. This class of products is known as “complimentary insurance.”
Many different permutations and combinations of complimentary and voluntary coverage have been tested. Such permutations and combinations have varying pricing to the sponsoring organization, lengths and amounts of coverage, timing to offer the voluntary coverage feature, and the like.